SureTrace Releases Shareholder Update; Company President Sets out Priorities for Immediate Future International Litigation Attor
June 07 2005 - 9:01AM
Business Wire
Sure Trace Security Corporation (OTC:SSTY) (the "Company")
announced that the Company has made staffing additions to its
Philadelphia office and the Company's intent to pursue certain
legal matters. The Company has added a full time consultant who
will work in the Philadelphia office and who will report directly
to the President. He will be delegated a series of special projects
and will design the organizational and administrative structure of
the new offices. A full time organizational/administrative
assistant will be added within a week or so. Negotiations with a
litigation specialist with international experience have also
commenced. Mr. Cimino, the Company President said, "I wanted to be
able to focus my attentions on where the Company is going... not
where it has been. I want to focus on the future... China. To me,
there are two Sure Traces: 1) pre-Cimino and 2) post-Cimino. The
consultant's job will be to focus on the pre-Cimino activities of
the Company, and the persons and companies involved in that time
period and their impact on the operations of the Company at
present. The problems of yesterday will still be there for us to
solve tomorrow, but today's opportunities may not come to fruition
if they are not seized...today!" "Our main goal is to protect the
Company's assets and goodwill and increase value for our
shareholders," said Cimino. To that end, in addition to other
reforms implemented by Cimino, the Company has embarked on a legal
campaign to investigate claims of unlawful conduct (including the
attempted misappropriation of intellectual property) and hold the
responsible parties accountable, including seeking damages
resulting from such improper acts. The Company has also announced
that it is in negotiation with counsel experienced in international
litigation, who is expected to oversee the investigation and
coordinate the worldwide actions which may result. About Sure Trace
Security Corporation Sure Trace is one of the premier systems
integrators for anti-counterfeiting and security surveillance
applications and a world-class provider of integrated tracking
devices. The company intends to deliver turnkey solutions, both
onshore and offshore, for governments, armed forces and industry,
through its own proprietary technology and through aggregating the
technology, products and services of third parties via licensing
agreements and or joint ventures. For more information go to:
www.suretrace.com. Safe Harbor: This press release contains
forward-looking information within the meaning of section 27A of
the Securities Act of 1933 and section 21E of the Securities
Exchange Act of 1934 and is subject to the Safe Harbor created by
those sections. This material contains statements about expected
future events and/or financial results that are forward-looking in
nature and subject to risks and uncertainties. Such forward-looking
statements, by definition, involve risks, uncertainties and other
factors, which may cause the actual results, performance or
achievements of Sure Trace to be materially different from the
statements made herein.
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